Axis PE Invests Rs 126 Crore In HCIL

Axis PE has invested thirty million dollars, approx 126 crore rupees, in Delhi-based railway line manufacturer Harish Chandra India Limited (HCIL), through its recently-launched Axis Infrastructure Fund-I.

Axis PE has picked up over 25% stake in the company and also two board memberships.

HCIL builds railways tracks, bridges, roads and does electrification work for the railways and has orders worth twelve hundred crore rupees. The company has made more than hundred kilometer of railway track and is also involved in the work of another two hundred kilometer in Orissa.

Mr. Gupta said that the fund would invest in power, aviation, hotel-business, pipeline and logistics and is in talks with many companies for investment.

One Comment

  1. Posted June 11, 2008 at 5:36 am | Permalink

    That is good news which will improve to the infrastructure of the indian level.

Post a Comment

You must be logged in to post a comment.